Fiduciary Trust Co. Reduces Holdings in Dover Corp (DOV)

Fiduciary Trust Co. trimmed its holdings in shares of Dover Corp (NYSE:DOV) by 5.0% during the second quarter, HoldingsChannel.com reports. The firm owned 26,453 shares of the industrial products company’s stock after selling 1,400 shares during the quarter. Fiduciary Trust Co.’s holdings in Dover were worth $1,937,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Duncker Streett & Co. Inc. raised its holdings in shares of Dover by 22.3% during the second quarter. Duncker Streett & Co. Inc. now owns 26,110 shares of the industrial products company’s stock worth $1,911,000 after purchasing an additional 4,762 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in shares of Dover by 6.6% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 58,717 shares of the industrial products company’s stock worth $5,767,000 after purchasing an additional 3,616 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Dover by 20.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 529,139 shares of the industrial products company’s stock worth $51,972,000 after purchasing an additional 91,602 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in shares of Dover by 3.2% during the first quarter. Schwab Charles Investment Management Inc. now owns 625,083 shares of the industrial products company’s stock worth $61,396,000 after purchasing an additional 19,270 shares during the period. Finally, Norinchukin Bank The raised its holdings in shares of Dover by 13.6% during the first quarter. Norinchukin Bank The now owns 14,150 shares of the industrial products company’s stock worth $1,390,000 after purchasing an additional 1,693 shares during the period. 89.54% of the stock is currently owned by institutional investors.

A number of analysts have weighed in on the stock. ValuEngine raised shares of Dover from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. Citigroup upped their price target on shares of Dover from $84.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, July 20th. William Blair restated a “market perform” rating on shares of Dover in a research report on Tuesday, July 3rd. Oppenheimer restated a “hold” rating on shares of Dover in a research report on Thursday, July 19th. Finally, BMO Capital Markets lowered their price target on shares of Dover from $118.00 to $115.00 and set an “outperform” rating for the company in a research report on Monday, April 30th. Thirteen research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $92.62.



Dover stock opened at $82.42 on Friday. The stock has a market cap of $12.27 billion, a PE ratio of 17.49, a PEG ratio of 1.43 and a beta of 1.32. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.35 and a quick ratio of 0.93. Dover Corp has a one year low of $67.06 and a one year high of $88.11.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, July 19th. The industrial products company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.21 by $0.09. The business had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.78 billion. Dover had a net margin of 9.64% and a return on equity of 18.66%. The company’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.04 earnings per share. equities research analysts predict that Dover Corp will post 4.83 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 17th. Investors of record on Friday, August 31st will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date is Thursday, August 30th. This is a positive change from Dover’s previous quarterly dividend of $0.47. Dover’s dividend payout ratio is currently 46.65%.

In related news, CFO Brad M. Cerepak sold 20,000 shares of the stock in a transaction dated Friday, June 15th. The shares were sold at an average price of $75.83, for a total value of $1,516,600.00. Following the completion of the transaction, the chief financial officer now owns 61,801 shares in the company, valued at approximately $4,686,369.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kristiane C. Graham sold 50,000 shares of the stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $82.75, for a total transaction of $4,137,500.00. Following the completion of the transaction, the director now owns 367,324 shares of the company’s stock, valued at approximately $30,396,061. The disclosure for this sale can be found here. Insiders sold a total of 87,245 shares of company stock valued at $7,011,239 in the last quarter. 2.50% of the stock is currently owned by insiders.

Dover Profile

Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in four segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Energy segment provides solutions and services for the production and processing of fuels for drilling and production, bearings and compression, and automation end markets.

Read More: Leveraged Buyout (LBO) Explained

Want to see what other hedge funds are holding DOV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dover Corp (NYSE:DOV).

Institutional Ownership by Quarter for Dover (NYSE:DOV)

Receive News & Ratings for Dover Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dover and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply